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Summer is finally here and a time for reflection

Written by Mark Scott on Friday, 08 July 2022. Posted in Analysis

From July to September most people in the UK, especially those with school age children or working in education take their summer break.

Summer is finally here and a time for reflection

From July to September most people in the UK, especially those with school age children or working in education take their summer break.

How people spend their time will depend on their circumstances but does vary greatly from spending it at home, perhaps because of the rising costs, to an exotic trip abroad. However, unless it is an action packed break, there will no doubt be some spare time to contemplate aspects about your life.  One of the things that may come to the fore is your job or career, which might be because you are looking at progressing within the business you are employed in or something else.

There could be a number of reasons for considering something else which might be; better job security, more income, disliking the job, people or a person with your current employer, wish to spend more time with family, not wishing to travel and much more. Whatever the reason buying a franchise could be an option.

If you consider job security, choosing an established well proven concept won’t eliminate that entirely as nothing does these days but provided you are successful and continue to be by putting in the effort it should be.

If it’s an increased income, you can look at franchises that will provide this. Yes you need to invest to do so but the long term picture needs to be considered. You must not forget that the banks can lend the money if you have some but not all of the investment needed or there is the Government’s Small Business Loan – for amounts up to £25,000, even if you can’t make a contribution. All I would say though is be wary of earnings claims by franchisors, as they may mean turnover as opposed to the amount in your pocket after all the expenses in the business.

By leaving the job you have and joining a new company you may still have people you dislike but can you tell with 1 or 2 interviews? With a franchise you have the opportunity to meet the people you will work with, spend as much time as you like getting to know them before joining. You should be able to speak to other franchisees, especially those local to you.  By doing that you can gauge what it’s like working with the franchisor and their team.  You can also ask the franchisees how realistic the earnings levels are, to gauge whether it will be sufficient for you.  Only when you are satisfied would you make the decision to join – oh provided it’s mutual too of course.

Having a better work life balance is often cited as a reason to buy a franchise.  It might be to be able to work at home, rather than travel or just be able to go to the children’s events that might have previously been tricky.  Working in an area that’s closer to home may also mean less commuting and potentially saving money.

Of course, setting up a business is not a simple thing to do.  There are things to learn, which often takes months or years.  However, another benefit of franchising is that they train you and support you throughout this process.  The franchisor is looking for a long term partnership to gain the best rewards, so it is in their best interests to ensure you are successful.

So, if as you sit at home, lay on a sunbed or relax on a plane think about buying a franchise – it could be exactly what you are looking for.

About the Author

Mark Scott

Mark Scott

Mark Scott Is an experienced franchise professional with over 20 years in the industry. Has worked with franchise networks at all stages of their development, including a number of established international brands. He is a BFA board member and currently the operations director of the Azura Group.

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